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The inner structure of pyramid and capital structure : evidence from China

Su, Kun - 2014

This paper examines the relationship between capital structure and the inner structure of pyramid in an emerging market economy country. The author uses firm-level panel data of Chinese listed companies to analyze the influence of the inner structure of pyramid on capital structure and the...

Persistent link: https://www.econbiz.de/10010235883

The inner structure of pyramid and capital structure : evidence from China

Su, Kun - 2015

This paper examines the effects of the pyramid inner ownership structure of companies on capital structure in an emerging market economy country. The author uses firm-level panel data of Chinese listed companies to analyze the effects of the inner structure of pyramid on capital structure, and...

Persistent link: https://www.econbiz.de/10010517031

An inverse problem study : credit risk ratings as a determinant of corporate governance and capital structure in emerging markets : evidence from Chinese listed companies

Kang, ManYing; Ausloos, Marcel - In: Economies : open access journal 5 (2017) 4, pp. 1-23

Credit risk rating is shown to be a relevant determinant in order to estimate good corporate governance and to self-optimize capital structure. The conclusion is argued from a study on a selected (and justified) sample of (182) companies listed on the Shanghai Stock Exchange (SHSE) and the...

Persistent link: https://www.econbiz.de/10011778650

Measuring announcement effect of refinancing : evidence from Chinese Public Utility listed companies

Zhang, Ziyi - In: International journal of management, economics and … 9 (2020) 4, pp. 271-285

Persistent link: https://www.econbiz.de/10012389399

Economic Policy Uncertainty and Capital Structure Choice : Evidence from China

Guangli, Zhang - 2016

This paper studies how economic policy uncertainty affects corporate capital structure for Chinese listed firms from 2003 to 2013. We show that when the degree of economic policy uncertainty increases, firms tend to lower their leverage ratios. However, firms that are from regions with lower...

Persistent link: https://www.econbiz.de/10013005330

Bank Loan Supply and Corporate Capital Structure : Recent Evidence from China

Shen, Jianfu - 2015

This paper provides new evidence on the supply side effects on corporate capital structure in China. We find that bank …-dependent firms, which are mainly large and state-owned companies in China, increase (decrease) their leverage ratios if loan supplies …

Persistent link: https://www.econbiz.de/10013030712

Capital Structure Decisions and Corporate Performance : Evidence from Chinese Listed Industrial Firms

Vijayakumaran, Ratnam - 2018

Market imperfections such as taxes, asymmetric information and agency problems make capital structure decisions relevant to the value of the firm. More specially, the agency theory suggests that debt financing is one of the governance mechanisms to mitigate agency costs of equity capital and...

Persistent link: https://www.econbiz.de/10012921104

The Political Economy of Corporate Finance : Evidence from ‘Re-nationalization’ in China

Huang, Zhangkai - 2014

We investigate the power structure of the Chinese political system and its implications on corporate sectors. We document large-scale ‘re-nationalization' — local government re-possessing controlling ownership stakes in previously privatized firms during the period 1999-2007. Firms located...

Persistent link: https://www.econbiz.de/10013049682

The Determinants of Capital Structure Decisions : Evidence from Chinese Listed Companies

Vijayakumaran, Sunitha - 2019

In this paper, we examine the determinants of leverage in the context of China using a sample of 1844 Chinese non …

Persistent link: https://www.econbiz.de/10012894144

Permissible Collateral and Access to Finance : Evidence from a Quasi-Natural Experiment

Xu, Bing - 2019

transactions in China. Difference-in-differences tests show firms operating with ex-ante more movable assets expand access to bank … structure in China. We conduct explicit robustness tests for these other reforms and amendments to the corporate tax structure … in China. We conduct explicit robustness tests for these other reforms and hence contribute to the empirical literature …

Persistent link: https://www.econbiz.de/10012900096